"...
BP OIL DESASTER
Fouling up more than just the environment
The now almost two-month long and ongoing BP oil spill disaster in the Gulf of Mexico
is turning out to be much more than merely an environmental disaster.
It is messing up diplomatic relationships between Britain and the United States,
pitting the interests of ordinary American citizens and businesses against those
of pensioners in the UK, and causing jitters in British financial markets.
In the meantime, experts are warning that it may become Christmas
before the gushing oil well is capped.
...
Amid what is seen as increasing anti-British rhetoric among certain American
politicians and media, US President Barack Obama this week will give an address
to the American nation on the situation after a two-day trip to the Gulf region.
...
American States along the Gulf of Mexico are making increasing demands
for financial compensation from BP Plc as the massive oil spill continues
to spread along their shorelines - slamming the tourism and fishing industries ...
...
To date, the spill
- has closed as much as 37% of the Gulf of Mexico to fishing,
- cut offshore drilling in the nation by half,
- polluted at least 225 kilometres of shoreline from Louisiana to Florida,
- and cost BP more than $1.43bn.
...
As the war of words in the US intensified, British business leaders leapt to BP's defence.
Having already had its credit rating slashed from AA-plus to AA by Fitch on 3 June,
the cost of insuring BP against a potential debt default reached a level
at one point on Thursday which was as if it had junk status.
...
As the war of words in the US intensified, British business leaders leapt to BP's defence.
Having already had its credit rating slashed from AA-plus to AA by Fitch on 3 June,
the cost of insuring BP against a potential debt default reached a level at one point
on Thursday which was as if it had junk status.
...
On the American side of the equation, it has now also emerged
that US government regulators missed one-third of their required inspections
of the Deepwater Horizon in the months leading up to the disaster.
...
The Times also reported over the weekend that a high-level British offer of help
to clean up the Gulf of Mexico oil spill was rebuffed by America
shortly after the accident.
..."
http://www.leadershiponline.co.za/articles/environment/655-bp-oil-disaster